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Fortuna Silver Mine (New York Stock Exchange: FSM) -11.6% In a deal Thursday, its Mexican subsidiary received notice that the country’s environment ministry was reassessing a 12-year extension to an environmental impact license granted last month. For San Jose Mine.
Semarnat said it did not have the authority to extend environmental impact approvals for more than half of the original 12-year term, the company said.
Fortuna Silver (FSM) said it would “pursue all available legal protections”, including initiating legal proceedings against Semarnat.
“During the current four years of the Mexican administration, the San Jose mine has been audited annually by the Federal Office of Environmental Justice and the National Water Commission, and all audits have confirmed San Jose’s compliance with its environmental obligations. said Jorge Ganosa, President and CEO.
Fortuna Silver (FSM) has been one of the best performers since September, recovering almost 100% from its lows.
